CA-BUSINESS Summary

TSX dips to three-month low on weak U.S. jobless claims

TORONTO (Reuters) - Canada's main stock index slumped to its lowest in more than three months on Thursday, led by declines in energy and financial shares, as weak U.S. jobless claims numbers revived concerns about the health of the world's biggest economy. The benchmark Canadian index, which recorded its biggest one-day percentage decline in more than nine months on Wednesday, fell for the fourth straight session amid a spate of negative economic news in recent days.

Exclusive: Disney to begin layoffs in studio, consumer products - sources

LOS ANGELES (Reuters) - Walt Disney Co expects to begin layoffs at its studio and consumer product divisions within the next two weeks, according to two people with knowledge of the matter, in the latest cost-reduction step to emerge from a company-wide review. The studio job cuts will center on the marketing and home video units and include a small number from the animation wing, said the sources, who spoke on condition of anonymity because the plans had not been made public.

Canada says supports Bank of Japan efforts to boost economic growth

OTTAWA (Reuters) - Canada said on Thursday it supports the Bank of Japan's move to inject an unprecedented amount of stimulus into its economy, and signaled it was not surprised by the policy. "Canada supports Japan's efforts to encourage economic growth," said Kathleen Perchaluk, spokeswoman for Finance Minister Jim Flaherty.

MF Global bankruptcy exit plan primed for court hearing

NEW YORK (Reuters) - MF Global Holdings on Friday will seek court approval of a plan to liquidate its assets and repay creditors, signaling the final stages of its large and politically-charged bankruptcy. The collapsed brokerage would repay the bulk of lender JPMorgan Chase & Co's claim, and would pay unsecured creditors as much as 34 cents on the dollar under a plan slated to go before Judge Martin Glenn in the U.S. Bankruptcy Court in Manhattan.

BOJ's Kuroda: monetary onslaught won't cause asset bubbles

TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda played down concerns his unprecedented burst of monetary stimulus would create asset-price bubbles even as it delivered an immediate pay-off in global markets, with government bond yields at a record low, the yen hitting a 3-1/2 year trough and stocks surging to multi-year highs. The yen weakened past 97 per dollar on Friday for the first time since August 2009, a day after the BOJ vowed to inject about $1.4 trillion into the economy in less than two years in a dose of shock therapy to end two decades of deflation.

Wall Street ratcheting down jobs expectations: JPMorgan economist

NEW YORK (Reuters) - Wall Street has lowered expectations for the pace of employment growth following higher than forecast jobless claims last week, but the latest jobs data due Friday won't tell investors much about the economy's momentum, JPMorgan Chase senior economist James Glassman said on Thursday. Economists polled by Reuters expect employers added 200,000 jobs last month after hiring 236,000 workers in February. The unemployment rate is seen steady at 7.7 percent.

Former Goldman head Stephen Friedman retires from board

NEW YORK (Reuters) - Goldman Sachs Group Inc said on Thursday that Stephen Friedman, who once headed the bank when it was a private partnership, will retire from its board of directors because he has reached the company's age limit. Friedman, who is 75, has been a director since April 2005 and is also chairman of Stone Point Capital, a private-equity firm, according to Goldman's website.

HSH Nordbank in settlement on money-laundering checks

WASHINGTON (Reuters) - The local branch of Germany's HSH Nordbank AG will improve its anti-money laundering controls under an agreement with regulators released by the Federal Reserve on Thursday. The Fed and the New York State Department of Financial Services entered into a settlement with HSH Nordbank's New York branch that requires the bank to address problems with its anti-money laundering compliance and requirements to report suspicious customer activity.

Ecuador judge rejects bribe claims against him in Chevron case

(Reuters) - The Ecuadorean judge who issued an $18.2 billion verdict against Chevron Corp has denied bribery allegations made by another judge who presided over the landmark pollution case in the South American country, according to a court filing on Thursday. Nicolas Zambrano had been accused in a U.S. court-filed sworn statement by Alberto Guerra, a fellow judge who heard the case in Ecuador in 2003 and 2004, of taking a $500,000 bribe from the plaintiffs.

Court reverses $482 million stent case against Cordis

WASHINGTON (Reuters) - Cordis Corp, a Johnson and Johnson subsidiary, did not infringe on a patent owned by a radiologist in making its Cypher stents, an appeals court said on Thursday, reversing a ruling by a lower court that ordered Cordis to pay $482 million. The Court of Appeals for the Federal Circuit reversed a ruling from a Texas jury, which found Cordis guilty of infringement and ordered the payment.

Source: http://news.yahoo.com/ca-business-summary-010222419--finance.html

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